If we did not have uncertainty we would not need statisticians says Kaiser Fung on the Business901 podcast. Kaiser is a statistician with more than a decade of experience in applying statistical methods to unlocking the relationship between advertising and customer behaviors. He leads a team of statisticians at Sirius XM Radio that is responsible for gleaning insight into customers and operational best practices. His blog, "Junk Charts," pioneered the genre of critically examining data and graphics in the mass media.
Mastering Analytics for Optimization SuccessMichele Kiss
Analytics and optimization can each generate great results for businesses. However, it’s at the intersection of analytics and optimization that real value can be extracted. In this session, Analytics Demystified Senior Partner Michele Kiss will share how to better integrate your testing and analytics practices, and real-life examples of success.
Russ Unger’s new book Designing the Conversation: Techniques for Successful Facilitation (Voices That Matter) was discussed in the recent Business901 Podcast, Voices Matter: Are you helping the situation?. This is a transcription of the podcast.
The equation, Trustworthiness = (Credibility + Reliability + Intimacy) / Self-Orientation, was a central part of a discussion with Charles Green, author of a series of books that have long been a favorite of mine. I own all of them and even have one in both print and audio. These books seem to be timeless and never more on point than the present.
Kaiser Fung, author of a new book, NumberSense a previous book, Numbers Rule Your World: The Hidden Influence of Probabilities and Statistics on Everything You Do and the popular blog, Junk Charts was my guest on two recent podcast. Kaiser is a professional statistician with over a decade of experience applying statistical methods to marketing and advertising businesses. He holds an MBA from Harvard Business School, in addition to degrees from Princeton and Cambridge Universities. He is Vice President of Business Intelligence and Analytics at Vimeo, a high-quality video hosting platform for creative people. He previously worked at Sirius XM Radio, American Express, [X+1], Exodus Communications, and Sonus Networks. He is also an adjunct professor at New York University teaching practical statistics.
5 Marketing Automation Tips for Small Businesses Mathew Sweezey
Five easy ways to scale marketing automation across sales, lead gen, and demand generation and increase your engagement by 3x, brought to you by the author of marketing automation for dummies.
Mastering Analytics for Optimization SuccessMichele Kiss
Analytics and optimization can each generate great results for businesses. However, it’s at the intersection of analytics and optimization that real value can be extracted. In this session, Analytics Demystified Senior Partner Michele Kiss will share how to better integrate your testing and analytics practices, and real-life examples of success.
Russ Unger’s new book Designing the Conversation: Techniques for Successful Facilitation (Voices That Matter) was discussed in the recent Business901 Podcast, Voices Matter: Are you helping the situation?. This is a transcription of the podcast.
The equation, Trustworthiness = (Credibility + Reliability + Intimacy) / Self-Orientation, was a central part of a discussion with Charles Green, author of a series of books that have long been a favorite of mine. I own all of them and even have one in both print and audio. These books seem to be timeless and never more on point than the present.
Kaiser Fung, author of a new book, NumberSense a previous book, Numbers Rule Your World: The Hidden Influence of Probabilities and Statistics on Everything You Do and the popular blog, Junk Charts was my guest on two recent podcast. Kaiser is a professional statistician with over a decade of experience applying statistical methods to marketing and advertising businesses. He holds an MBA from Harvard Business School, in addition to degrees from Princeton and Cambridge Universities. He is Vice President of Business Intelligence and Analytics at Vimeo, a high-quality video hosting platform for creative people. He previously worked at Sirius XM Radio, American Express, [X+1], Exodus Communications, and Sonus Networks. He is also an adjunct professor at New York University teaching practical statistics.
5 Marketing Automation Tips for Small Businesses Mathew Sweezey
Five easy ways to scale marketing automation across sales, lead gen, and demand generation and increase your engagement by 3x, brought to you by the author of marketing automation for dummies.
Pairing Analytics With Qualitative Methods to Understand the WHYMichele Kiss
Rudimentary analytics can be valuable to understand WHAT your customers and prospects do. However, the true value from analytics comes from marrying that with the WHY - and more importantly, overcoming the WHY NOT. In this session, Analytics Demystified Senior Partner Michele Kiss will discuss quantitative and qualitative techniques analysts can leverage to get more insight into customer behavior. (Psychologist’s armchair not included.)
What the Quantified Self Movement Teaches Us About Analytics, Marketing and P...Michele Kiss
At the intersection of fitness, analytics and social media, a new trend of “self-quantification” is emerging. Devices and Applications like Jawbone UP, Fitbit, Nike Fuel Band, Runkeeper and even Foursquare are making it possible for individuals to collect tremendous detail about their lives: every step, every venue visited, every bite, every snooze. What was niche, or reserved for professional athletes or the medically-monitored, has become mainstream, and is creating a wealth of incredibly personal data.
This presentation discusses what this emerging trend teaching us about the practice of analytics, the marketing opportunities that arise and the implications for privacy around this very, very personal data.
How GAFAN* is sharing its technology
Learning 1: You can’t miss out on behavioural data;
Learning 2: Time is money: improve your recency;
Learning 3: How readers react is crucial;
Learning 4: Not all data is created equal;
Learning 5: Engineering and Operations are 80% of the effort;
Learning 6: Only real business results in production matter;
Based on a proprietary technology, CH&Co. launches a powerful tool to analyze email uses and communication flows. HighWayToMail provides a disruptive view on how companies actually work.
Digital Analytics When Your Website Isn't "Top Dog"Michele Kiss
Digital Analytics is far simpler when your website is your main conversion point. But how do you measure success when your website plays only a minor role in your overall digital ecosystem? This presentation looks at how you define more holistic campaign KPIs, to measure success across channels like social and mobile, in conjunction with your website.
Mastering Analytics for Optimisation SuccessMichele Kiss
[This version was presented at Conversion Hotel in Texel, NL in November 2017]
Analytics and optimization can each generate great results for businesses. However, it’s at the intersection of analytics and optimization that real value can be extracted. In this session, Analytics Demystified Senior Partner Michele Kiss will share how to better integrate your testing and analytics practices, and real-life examples of success.
SEO split tests you should run - Will CritchlowWill Critchlow
My BrightonSEO deck September 2016. Why and how to run SEO split tests, and some lessons we have learned from running our own tests via our DistilledODN platform.
The best analysis in the world is ineffective without successful communication of the results. This session delivers practical data visualisation tips, that any analyst can use (regardless of tool!)
[Presentation from the Observe Point Virtual Summit.]
[CXL Live 16] Neuro-Persuasion - Brain-Based Strategies for Online Marketers ...CXL
Are you making the critical mistake of using only features, benefits, and price to persuade your customers to buy? If so, you are only selling to 5% of your customer’s brain!
Roger Dooley, author of Brainfluence, will show you how to use simple techniques to appeal to the 95% of your customer’s decision-making that’s driven by non-conscious processes.
Show Don't Tell - Creating Visually Useful Infographics For Your AudienceStrataBlue
"Show. Don't tell. Creating Visually Useful Infographics For Your Audience."
This was a presentation given by Suzanne McGill, the Senior Graphic Designer at StrataBlue -- a full-service digital marketing agency. The presentation was delivered at the National Association of Bar Executive's Conference in Indianapolis on October 2, 2014.
Infographics are very beneficial for many different reasons. They provide great brand recognition and SEO benefits.
Whether you’re a butcher, banker or beautician, your business can benefit from the power of infographics. Any company can use this visual tool on social media, and research indicates that infographics assist companies in increasing traffic 12% faster than organizations that don’t use them.
Embrace the Visual Marketing Era
We’ve learned through science that 90% of information transmitted to the brain is visual and is processed 60,000 times faster than text. (Maybe it’s time to revisit adding Pinterest, Instagram or Snapchat to your brand’s marketing strategy.) The daunting fact about creating infographics for many marketers is the time investment required.
A successful infographic does not exist without data. If it’s time you are worried about investing in an infographic, look back on your past blog posts, case studies or surveys to cut out a majority of the work! You’ve already put in hours, maybe even months’ worth of work, so repurpose the content to be more visually appealing on different platforms. If you are interested in which infographic will perform best with your target audience, try using Facebook Dark Posts to analyze which visual resonates best with your fans.
Or maybe you want to start an infographic from scratch, but need some assistance. Contact Josh Pyne, Director of Sales at StrataBlue, about having an infographic created and promoted to assist your brand's online marketing efforts.
Steve Portigal. author of Interviewing Users: How to Uncover Compelling Insights, is the founder of Portigal Consulting. Steve was my guest on the Business901 podcast, Uncovering Compelling Insights. This is a transcription of the podcast.
John Hunter has been writing about management online since 1995. He has shared ideas on management via his blog, Curious Cat Management Improvement Blog, since 2005 and recently as the new author of the Dr. Deming blog hosted by the W.Edwards Deming Institute.
In John’s new book, Management Matters: Building Enterprise Capability, he looks at the ideas and principles of people like Dr. Deming, Ackoff, Ohno, Drucker, Scholtes, Joiner and others, explaining how to adopt them in your work. If you think, this book is a re-write of some old principles, I encourage you to listen to the podcast. John, though he credits the others, has fresh perspectives on how to integrate new technology and new ideas to manage organizations more effectively.
This is a transcription of the podcast, Management Matters to a Curious Cat.
Blending appreciative inquiry and continuous improvementBusiness901
Ankit Patel, principal partner with The Lean Way Consulting firm while doing some work with the Cleveland Clinic, discovered Appreciative Inquiry and saw an opportunity to blend it with his work in Continuous Improvement.
This outline is not an in-depth user analysis by any stretch of the imagination. It is more for the product-orientated company that needs a simple wake-up call about defining their customer base. I still struggle with narrowing the focus of customers when face with the decision of where to direct their marketing efforts. This outline was created several years ago but still serves the purpose it was originally intended.
This slide deck was used in a presentation that is available in the Training section at Business901.com. Using a structured approach, such as the Lean thinking tool of A3, the mind remains open, enabling one to examine each element of the decision or problem separately or systematically, and sufficiently, ensuring that all alternatives are considered. The outcome is almost always more comprehensive and more effective than the instinctive approach.
Lean Sales Methods allow us to start adapting and understanding our customer needs during the sales learning cycles. We no longer can think about control and manipulation that occurs in the traditional sales funnel. The problem is that sales forces have been forced to create their own hybrid way to accomplish their goals, SALES.
As a result, most organization have left the sales people fend for themselves as long as they met their numbers. We accepted a variety of methods from relationship to problem solving selling deeming that every salesperson has their own style. Though this is true, it often results in misinformation and downstream problems after the job has been sold.
This is the slide deck that I used for my initial presentation on Lean Sales Methods. You can watch the 15 minute webinar on You Tube. The link and title: Lean Sales Method: CAP Do http://youtu.be/iFZ5wGDRMuo
Craig Weber offers excellent advice and material on the most basic way of creating success, our conversations. An excerpt from the Business901 podcast, Working Conversations; "We don’t focus on the conversations much, partly because we lack the frameworks. We’ve got a lot of good frameworks and strategies out there for how to structure an organization, how to set up your IT. Yes, all the technical stuff we’re good at. The conversation stuff we kind of lack a little structure, lack a little rigor. We’re just not trained to pay attention to it or to give it as much focus as we’re at other aspects of building a good work relationship."
This is a transcription of the podcast. Working Conversations;
Pairing Analytics With Qualitative Methods to Understand the WHYMichele Kiss
Rudimentary analytics can be valuable to understand WHAT your customers and prospects do. However, the true value from analytics comes from marrying that with the WHY - and more importantly, overcoming the WHY NOT. In this session, Analytics Demystified Senior Partner Michele Kiss will discuss quantitative and qualitative techniques analysts can leverage to get more insight into customer behavior. (Psychologist’s armchair not included.)
What the Quantified Self Movement Teaches Us About Analytics, Marketing and P...Michele Kiss
At the intersection of fitness, analytics and social media, a new trend of “self-quantification” is emerging. Devices and Applications like Jawbone UP, Fitbit, Nike Fuel Band, Runkeeper and even Foursquare are making it possible for individuals to collect tremendous detail about their lives: every step, every venue visited, every bite, every snooze. What was niche, or reserved for professional athletes or the medically-monitored, has become mainstream, and is creating a wealth of incredibly personal data.
This presentation discusses what this emerging trend teaching us about the practice of analytics, the marketing opportunities that arise and the implications for privacy around this very, very personal data.
How GAFAN* is sharing its technology
Learning 1: You can’t miss out on behavioural data;
Learning 2: Time is money: improve your recency;
Learning 3: How readers react is crucial;
Learning 4: Not all data is created equal;
Learning 5: Engineering and Operations are 80% of the effort;
Learning 6: Only real business results in production matter;
Based on a proprietary technology, CH&Co. launches a powerful tool to analyze email uses and communication flows. HighWayToMail provides a disruptive view on how companies actually work.
Digital Analytics When Your Website Isn't "Top Dog"Michele Kiss
Digital Analytics is far simpler when your website is your main conversion point. But how do you measure success when your website plays only a minor role in your overall digital ecosystem? This presentation looks at how you define more holistic campaign KPIs, to measure success across channels like social and mobile, in conjunction with your website.
Mastering Analytics for Optimisation SuccessMichele Kiss
[This version was presented at Conversion Hotel in Texel, NL in November 2017]
Analytics and optimization can each generate great results for businesses. However, it’s at the intersection of analytics and optimization that real value can be extracted. In this session, Analytics Demystified Senior Partner Michele Kiss will share how to better integrate your testing and analytics practices, and real-life examples of success.
SEO split tests you should run - Will CritchlowWill Critchlow
My BrightonSEO deck September 2016. Why and how to run SEO split tests, and some lessons we have learned from running our own tests via our DistilledODN platform.
The best analysis in the world is ineffective without successful communication of the results. This session delivers practical data visualisation tips, that any analyst can use (regardless of tool!)
[Presentation from the Observe Point Virtual Summit.]
[CXL Live 16] Neuro-Persuasion - Brain-Based Strategies for Online Marketers ...CXL
Are you making the critical mistake of using only features, benefits, and price to persuade your customers to buy? If so, you are only selling to 5% of your customer’s brain!
Roger Dooley, author of Brainfluence, will show you how to use simple techniques to appeal to the 95% of your customer’s decision-making that’s driven by non-conscious processes.
Show Don't Tell - Creating Visually Useful Infographics For Your AudienceStrataBlue
"Show. Don't tell. Creating Visually Useful Infographics For Your Audience."
This was a presentation given by Suzanne McGill, the Senior Graphic Designer at StrataBlue -- a full-service digital marketing agency. The presentation was delivered at the National Association of Bar Executive's Conference in Indianapolis on October 2, 2014.
Infographics are very beneficial for many different reasons. They provide great brand recognition and SEO benefits.
Whether you’re a butcher, banker or beautician, your business can benefit from the power of infographics. Any company can use this visual tool on social media, and research indicates that infographics assist companies in increasing traffic 12% faster than organizations that don’t use them.
Embrace the Visual Marketing Era
We’ve learned through science that 90% of information transmitted to the brain is visual and is processed 60,000 times faster than text. (Maybe it’s time to revisit adding Pinterest, Instagram or Snapchat to your brand’s marketing strategy.) The daunting fact about creating infographics for many marketers is the time investment required.
A successful infographic does not exist without data. If it’s time you are worried about investing in an infographic, look back on your past blog posts, case studies or surveys to cut out a majority of the work! You’ve already put in hours, maybe even months’ worth of work, so repurpose the content to be more visually appealing on different platforms. If you are interested in which infographic will perform best with your target audience, try using Facebook Dark Posts to analyze which visual resonates best with your fans.
Or maybe you want to start an infographic from scratch, but need some assistance. Contact Josh Pyne, Director of Sales at StrataBlue, about having an infographic created and promoted to assist your brand's online marketing efforts.
Steve Portigal. author of Interviewing Users: How to Uncover Compelling Insights, is the founder of Portigal Consulting. Steve was my guest on the Business901 podcast, Uncovering Compelling Insights. This is a transcription of the podcast.
John Hunter has been writing about management online since 1995. He has shared ideas on management via his blog, Curious Cat Management Improvement Blog, since 2005 and recently as the new author of the Dr. Deming blog hosted by the W.Edwards Deming Institute.
In John’s new book, Management Matters: Building Enterprise Capability, he looks at the ideas and principles of people like Dr. Deming, Ackoff, Ohno, Drucker, Scholtes, Joiner and others, explaining how to adopt them in your work. If you think, this book is a re-write of some old principles, I encourage you to listen to the podcast. John, though he credits the others, has fresh perspectives on how to integrate new technology and new ideas to manage organizations more effectively.
This is a transcription of the podcast, Management Matters to a Curious Cat.
Blending appreciative inquiry and continuous improvementBusiness901
Ankit Patel, principal partner with The Lean Way Consulting firm while doing some work with the Cleveland Clinic, discovered Appreciative Inquiry and saw an opportunity to blend it with his work in Continuous Improvement.
This outline is not an in-depth user analysis by any stretch of the imagination. It is more for the product-orientated company that needs a simple wake-up call about defining their customer base. I still struggle with narrowing the focus of customers when face with the decision of where to direct their marketing efforts. This outline was created several years ago but still serves the purpose it was originally intended.
This slide deck was used in a presentation that is available in the Training section at Business901.com. Using a structured approach, such as the Lean thinking tool of A3, the mind remains open, enabling one to examine each element of the decision or problem separately or systematically, and sufficiently, ensuring that all alternatives are considered. The outcome is almost always more comprehensive and more effective than the instinctive approach.
Lean Sales Methods allow us to start adapting and understanding our customer needs during the sales learning cycles. We no longer can think about control and manipulation that occurs in the traditional sales funnel. The problem is that sales forces have been forced to create their own hybrid way to accomplish their goals, SALES.
As a result, most organization have left the sales people fend for themselves as long as they met their numbers. We accepted a variety of methods from relationship to problem solving selling deeming that every salesperson has their own style. Though this is true, it often results in misinformation and downstream problems after the job has been sold.
This is the slide deck that I used for my initial presentation on Lean Sales Methods. You can watch the 15 minute webinar on You Tube. The link and title: Lean Sales Method: CAP Do http://youtu.be/iFZ5wGDRMuo
Craig Weber offers excellent advice and material on the most basic way of creating success, our conversations. An excerpt from the Business901 podcast, Working Conversations; "We don’t focus on the conversations much, partly because we lack the frameworks. We’ve got a lot of good frameworks and strategies out there for how to structure an organization, how to set up your IT. Yes, all the technical stuff we’re good at. The conversation stuff we kind of lack a little structure, lack a little rigor. We’re just not trained to pay attention to it or to give it as much focus as we’re at other aspects of building a good work relationship."
This is a transcription of the podcast. Working Conversations;
There is a presentation using this slide deck in the Business901.com training section. Though you may prefer using other tools such as the ScholtesCanvas (quickly becoming a favorite of mine) the Business Model Canvas provides clarity to the Lean Sales and Marketing team. Every Value Stream and everyone within the value stream should understand the value stream from this perspective. The book, Business Model Generation describes a visual template preformatted with the nine blocks of a business model, which allows you to develop and sketch out new or existing business models. More information on the Canvas can be found at http://businessmodelalchemist.com.
Ed Muzio, president and CEO of Group Harmonics was my guest on the Business901 Podcast. This is a transcription of the podcast, Creating a Great Workplace. We had a great discussion on his new book, Make Work Great: Super Charge Your Team, Reinvent the Culture, and Gain Influence One Person at a Time. He is a leader in the application of analytical models to group effectiveness and individual enjoyment. I thought it was a must listen for Kaizen Leaders and participants. Ed gives some great tips and tools that can be instantly implemented. I was very impressed on his ease of explanation and mastery of the subject.
Identifying Value in Lean Service DesignBusiness901
I use the Business Model Canvas as my first step. The nine blocks that make up this canvas provides the organization the necessary structure needed. There is a video explaining how to complete and use the canvas. I apologize for the quality of the video this is the slide deck uploaded for it.
What will drive Lean Management System is the “Why” more so than the “How”. The “Why” provides the clear strategic intent which will provide the fuel for Leader Standard Work. Standardizing your work provides opportunity to spread it within your organization and make it easier for customers to go deeper into your organization for knowledge sharing. This provides a flood of new ideas for innovation and co-creation opportunities. But even more importantly it secures a vendor-customer relationship or partnership that is difficult for others to replicate. There is a presentation on Slideshare utilizing this slide deck.
The Deming Cycle or The Plan-Do-Check-Act (PDCA) model is a proven framework for implementing continuous quality improvement. It originated in the 1920s with Walter A. Shewhart. These four steps provide the framework for continuous improvement. The PDCA cycle basically starts with a plan and ends with an action in accordance with the information learned during the process. In later years Dr. Deming actually changed the Check portion to the term Study to highlight the creation and validation of new knowledge during that portion of the cycle. There is a Slideshare presentation using this slideck.
Beyond Agile co-author Maritza van den Heuvel was my guest on the podcast, Should your Processes be cast in Stone. This is a transcription of the podcast.
Systemizing your approach to managementBusiness901
H. WILLIAM "Bill" DETTMER. Senior Partner, Goal Systems International. Bill is one of the most recognized experts in the Theory of Constraints field and more specifically the Logical Thinking Process.
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Dr. Karl Kapp, author of The Gamification of Learning and Instruction was my guest on the Business901 podcast, Learning with Gamification. If you need an introduction, or maybe you are ready to take the next step and gamify a few engagement strategies or your training. This podcast and transcription are a great place to start.
Steps for Effective Case Analysis Adapted from Harvard .docxrjoseph5
Steps for Effective Case Analysis
Adapted from Harvard Business Publishing
It's useful to think of a case analysis as digging deeper and deeper into the layers of a case.
You should make sure to follow these general steps in addition to answering the questions
from the case.
1. You start at the surface, Getting Oriented and examining the overall case
landscape.
2. Then you begin to dig, Identifying Problems, as well as possible alternative
solutions.
3. This is the section where you will spend most of your time.
Digging deeper, Performing Analyses you identify information that exposes the issues,
gather data, perform calculations that might provide insight. "Analysis" describes the
varied and crucial things you do with information in the case, to shed light on the problems
and issues you've identified. That might mean calculating and comparing cumulative
growth rates for different periods from the year-by-year financials in a case's exhibits. Or it
might mean pulling together seemingly unrelated facts from two different sections of the
case, and combining them logically to arrive at an important conclusion or conjecture.
Analysis usually doesn't provide definitive answers. But as you do more of it, a clearer
picture often starts to emerge, or the preponderance of evidence begins to point to one
interpretation rather than others. Don't expect a case analysis to yield a "final answer." If
you're accustomed to doing analysis that ends with a right answer, coming up with a
possible solution that simply reflects your best judgment might frustrate you. But
remember that cases, much like real-world business experiences, rarely reveal an
absolutely correct answer, no matter how deeply you analyze them. Typically, you'll do
qualitative analysis based on your reading and interpretation of the case. Ask yourself:
What is fact and what is opinion? Which facts are contributing to the problem? Which are
the causes?
Qualitative factors should be prioritized and fully developed to support your argument.
Make notes about your evolving interpretations, always being careful to list the evidence or
reasons that support them. Qualitative information in a case can be a mix of objective and
subjective information. For example, you may need to assess the validity of quotations from
company executives, each of whom has a subjective opinion. Reports from external
industry analysts or descriptions of what other companies in the industry have done might
seem more objective; no one in the case has a vested interest in this information. A
company's internal PowerPoint presentation should be considered separately and
differently from a newspaper article about the company. Cases mix firsthand quotations
and opinions with third-person narratives, so you need to consider the reliability of
sources. As in real life, you shouldn't take all case information at face value.
Quantitative data—such as amounts of.
Data vs Hunch - Beyond Lecture at Hyper Island 2015Beyond
How do you strike a balance between data and creative hunch in a digital marketing world obsessed with metrics and ROI? Slides from a session with the Hyper Island Digital Data Strategy class of 2015, at the school's Stockholm campus.
Customer Value Mapping: Using customer value mapping to understand what custo...Business901
Customer value mapping is a qualitative approach that looks at the perceived value of a product or service from the customer’s perspective.
The Business901 Fractional Marketing Services allow customers to focus on their core operations while the business development and marketing experts at Business901 handle customer-facing campaigns. The plans are tailored to each business, considering each company’s existing capabilities, budget, and industry.
Business901 offers a unique combination of traditional and progressive methods to maximize customer growth. Social media campaigns, in-person and online events, and partnerships with industry organizations are all available, depending on the company’s needs. Additionally, Business901 utilizes AI-based tools to accelerate the sales and marketing process. This modern approach ensures that customers get the most out of their time and budget.
“At the end of the day, Business901 is focused on providing clients with the best experience possible,” said Dager. “We strive to give our clients access to the expertise and resources they need to succeed in their respective industries.”We act as teachers, consultants, strategists, or implementers. The program is designed around your desired deliverables with specific milestones and time frames to meet your outcomes.
Are you looking at growth through the right lenses? Or are you still operating in the Doom Loop? Is your disciplined actions focused on experimentation?
Jim Collins has been talking about the Flywheel Effect for many years and most of us (should) know the intricacies behind the concept. Reviewing the recent book Experimentation Works, author Stefan Thomke reinforces this effect through Booking's Growth Flywheel and his own 7 System Levers.
Expanding on just 3 of the 7 levers:
1. Scale: Number of experiments per week, months, or year
2. Scope: Extent to which an organization’s employees are involved in experiments
3. Speed: Time from formulating a hypothesis to completing an experiment
In the past, I have written about using the Lean trio of SDCA, PDCA, EDCA with an umbrella of CAP-Do or in Non-Lean terms; Standard Work, Continuous Improvement, Design Thinking (Exploration), and Reflection.
In the book, Cracked it!: How to solve big problems and sell solutions like top strategy consultants, the authors lay out their 4s Framework in much the same manner with a flowchart to guide you through the use of it. Their dive into each discipline is excellent. Enjoy the read.
The part of the framework that they took the time with that most problem-solving books don’t is the Sell Stage. Of course, I am partial to that area but even though I am, when doing it for myself, I often just think people get it. Everyone wants to grow revenue or save time and money?
I also like that though it is convenient to put documentation at the end and part of this stage, I took a little deeper meaning from it. The part of sustaining, and even improving again often rests on the idea of how we deliver/sell the results.
Branops - Making Your Story Your StrategyBusiness901
In BRANOPS, we scale by looking at marketing from a Growth Mindset. We don’t start with a complex market and try to work back by tweaking and modifying it.
Roles of Intuition & Rationality in Strategic DecisionsBusiness901
Author Julia Sloan in the book, Learning to Think Strategically, emphasizes the need for both a Creative and Rational balance in the approach.
Sloan says, "Without a well-honed intuitive sense, problem analysis can remain clinical, sanitized, and ineffectual, in that problems are exposed only superficially and analyzed without much, if any, examination of the “truthfulness” of their cause. Rationality then plays the critical role of identifying relevant information and analyzing facts." I find her approach the rest of the book equally enlightening.
This process reminds me of the Divergent/Convergent Design Think approach and equally similar to Disney’s Creative Strategy: Dreamer, Realist, and Critic approach.
I have both an electronic and audion version of the book. It is a good listen. Amazon: Learning to Think Strategically 4th Edition https://amzn.to/2Z1vyKB
Onboarding Freelancers LinkedIn Group Deck Business901
Would you contribute to empowering Freelancers in your work environment?
Please consider joining this LinkedIn Group:
https://lnkd.in/eRuGzsm
As the use of Freelancers proliferate across organizational departments new ways of thinking are required. We have created instances of success in employee onboarding but often we have similar expectations of Freelancers in very condensed cycles.
This group is intended first and foremost to create awareness of these issues and elaborate on ideas for enhancing the flow of work between the stakeholders.
Lean Scale Up: Lean as a Growth StrategyBusiness901
The Lean Scale-Up ebook has been a handout and lead generator on my website for several years. It was created with the understanding that if you can build a culture of PDCA, a culture of learning, growth becomes part of everyone’s job.
It is this aspect I have always believe that separates good companies from great companies.
Social Media Analytics For International MarketersBusiness901
This Prime Target Webinar will provide insights on how social media analytics can be used for International Market Research.
Topics Covered:
1. Five Advantages to using social media analytics for international marketing
2. Social media – source for market research unexploited by companies
3. Learn to understand and track our markets and competitors in our target countries
4. Discover reliable tools adapted for small companies
More Info & Registration:
https://www.bigmarker.com/prime-target/SOCIAL-MEDIA-ANALYTICS-FOR-INTERNATIONAL-MARKETERS
In creating an International Strategy, "Where to play" is a critical component, maybe the most. And the scariest part is that it can change rather quickly. What is your risk? Are you prepared?
This is an excerpt from a recent Prime Target and Euromonitor International webinar about risk hosted by Tatiana Miron: https://lnkd.in/eXr_8dU
PrimeTarget.tech helps SMEs and startups accelerate growth and improve performance globally through the power of data and analytics. The management team is versatile and abreast in growth hacking for companies with global ambitions. Their purpose is to open access to small and medium enterprises to a fundamentally new approach in decision making with regards to global strategies, one designed to match today's fast pace of change and new technologies.
Get On Track with a Strength-Based Sales and Marketing ApproachBusiness901
If the video does not play in the 2nd slide, this is the YouTube Link: https://youtu.be/fmWWut0rjBY
The video incorporates the disciplines I use within a Strength-Based Sales and Marketing effort. Taken from great leaders of Appreciative Inquiry, it may look complicated but all of these are founded on the basic principles of AI.
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Faces of Change 2 - Social Emotional Learning ProgramBusiness901
The Faces of Change 2 Introductory Program provides a foundation for teachers, parents, social workers and mentors to understand how and what that relationship should look like for students presently and in the future. By using the Faces of Change Timeline as a central focus we will introduce the central theme of the Faces of Change 2 program. Participants are provided with the groundwork on how to use Faces of Change activities in the classroom while counseling, advising, or serving as an advocate for the student.
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Keatron Evans is the Managing Partner at KM Cyber Security, LLC
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Understand the Purpose Behind the QuestionBusiness901
The ability to ask good questions is essential in today’s world. However, as Stephen Covey categorized in one of his 7 Habits; “Seek first to Understand, then to be understood.” Or another way Dale Carnegie phrased this, “To be interesting, be interested.” To accomplish this, I think one of the areas that most of could work on is to develop our ability to quickly recognize the purpose of the question. When we do this, it is much easier to align perspectives and therefore engage in collaborative efforts.
Adapted from the work of Stafford (2009) and from the book, Collaborating for Inquiry-Based Learning: School Librarians and Teachers Partner for Student Achievement by Virginia L. Wallace and Whitney N. Husid, the Purposes for Question diagram is an ideal training aid for me in sales and marketing.
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The Lean Process of CAP-Do is how I initiate most projects. It creates a path towards capturing standard work, deciding what we what improve on, what we want to explore and not to be forgotten what we want to stop doing. This outline provides an introduction to using Lean for marketing and introduces the upcoming workshop on Marketing Action Research.
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LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
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Tata Group Dials Taiwan for Its Chipmaking Ambition in Gujarat’s DholeraAvirahi City Dholera
The Tata Group, a titan of Indian industry, is making waves with its advanced talks with Taiwanese chipmakers Powerchip Semiconductor Manufacturing Corporation (PSMC) and UMC Group. The goal? Establishing a cutting-edge semiconductor fabrication unit (fab) in Dholera, Gujarat. This isn’t just any project; it’s a potential game changer for India’s chipmaking aspirations and a boon for investors seeking promising residential projects in dholera sir.
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[Note: This is a partial preview. To download this presentation, visit:
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Putting the SPARK into Virtual Training.pptxCynthia Clay
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It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
1. Business901 Podcast Transcription
Implementing Lean Marketing Systems
Interpretations of Data
Kaiser Fung, author of Numbers Rule Your World
Related Podcast:
Interpretations of Data
Interpretations of Data
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2. Business901 Podcast Transcription
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Kaiser Fung is a statistician with more than
a decade of experience in applying
statistical methods to unlocking the
relationship between advertising and
customer behaviors. He leads a team of
statisticians at Sirius XM Radio that is
responsible for gleaning insight into
customers and operational best practices.
His blog, "Junk Charts," pioneered the
genre of critically examining data and
graphics in the mass media. Since 2005,
"Junk Charts" has received rave reviews
from Science magazine, the Guardian,
Yahoo!, and Stanford University Libraries. He is an adjunct
professor at New York University where he teaches practical
statistics to professionals, and holds statistics, business, and
engineering degrees from Cambridge, Harvard, and Princeton
Universities. Fung is also a fellow of the Royal Statistics Society.
NUMBERS RULE YOUR WORLD
In the popular tradition of eye-opening bestsellers like
Freakonomics, The Tipping Point, and Super Crunchers, this
fascinating book from renowned statistician and blogger Kaiser
Fung takes you inside the hidden world of facts and figures that
affect you every day, in every way. These are the statistics that
rule your life, your job, your commute, your vacation, your food,
your health, your money, and your success. This is how engineers
calculate your quality of living, how corporations determine your
needs, and how politicians estimate your opinions. These are the
numbers you never think about-even though they play a crucial
role in every single aspect of your life.
Interpretations of Data
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Implementing Lean Marketing Systems
Joe Dager: Welcome, everyone. This is Joe Dager, the host of
the Business 901 Podcast. With me today is Kaiser Fung. Kaiser is
a professional statistician who holds degrees from Cambridge,
Harvard, and Princeton Universities. He is a statistician for Sirius
XM radio and applies his method to advertising and customer
behavior. Kaiser, I'd like to welcome you to the podcast and
you've just written a new book that is called "Numbers Rule Your
World." Now, could you tell us why'd you write the book and what
were you hoping for someone to get out of it?
Kaiser Fung: Yes. Thanks for having me here, Joe. Well, the
book "Numbers Rule Your World" is really a book about statistical
thinking applied to real world problems. It takes a storytelling
approach very similar to what you see in Freakonomics or in any
of the Malcolm Gladwell books, there's a little mathematics in
there. The point that I'm trying to make at a very high level is
that oftentimes in practice it is the communication of the
statistical information that is the most important to influencing
any decisions. The math itself is in the background and obviously
you want to do it right, but once that's done there's a lot stuff
that has to happen in order to make an impact on the world.
I think that's the direction that I would like to take the
conversation in regards to the whole business analytics area. Now
that we have found the great insight, what are we going to do
with it?
Joe: We go back to most people don't really understand
numbers do they?
Kaiser: Well, I think we all home some intuitive understanding
of numbers. However, there are a lot of traps in terms of
interpreting numbers. Unfortunately, I think schools don't do a
really good job in conveying that piece of information. So that's
actually another motivation for writing this sort of book is that if
you open up a statistics textbook or any sort of introduction to
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statistics, there's a way in which the materials are organized and
it's typically organized by technical methodology. So you have a
chapter on causative intervals. You have a chapter on hypothesis
testing. You have a chapter on regression techniques and so on,
so forth. Those are not concepts, those are techniques. What is
very inside all these techniques are very important concepts that
are needed to think about numbers.
So my book is organized around five such concepts. Things like
thinking about variability as opposed to averages, figuring out
how to form comparison groups, how do you compare like with
like, big concepts like that. Typically - then, read what I've
written and go back to a textbook, it will be very challenging to
find which parts of the book actually is the concepts that I talk
about and yet those concepts are really what people should be
thinking about when they think about numbers.
Joe: I realize, after reading your book, it kind of reinforces a few
things. You start reading a little bit differently. You start picking
things out, "Well, heck, that guy's talking about individual, he's
not really talking about, for lack of a better word, the average
person."
Kaiser: Yeah. I think what happens is that when you are reading
some of these other textbooks and so on, so forth, what happens
is that you're kind of so immersed in the math and so immersed
in the numbers that you can't really see what you're doing.
Oftentimes it's not the case where they don't teach you anything
about the concepts. It's thought of sitting in the background.
What I'm trying to do is to expose and make these things
apparent and put them as the foreground as opposed to the
background. So we've essentially flip-flopped what is traditionally
the way that this is presented. So all of the methodologies and
the math is kind of sitting in the background now and I'm
exposing the parts that are really important to get. Even if you
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don't get the math, you could at least get how to look at the
world.
Oftentimes you notice that these are things that you probably are
doing instinctively. It should just reinforce, "Here's the theoretical
framework behind why you would look at things in a certain way."
Joe: I don't know if you do a lot of this instinctively. I think
numbers, statistics, and probabilities are somewhat counter
intuitive for most of us. We want to accept the story about
something and that story usually comes from an individual, not
necessarily what it - a person has a problem on a flight. I think
you mentioned in one of the subheadings of your chapters,
"When you're ready to get off the flight the pilot comes on and
says, "You're just got done with the safest part of your journey,
"" but that was, "Now, go drive home." That really brings a lot of
truth to what you were saying.
Kaiser: Yeah. I think you're right in the sense that if you just go
by intuition, intuition leads us to a lot of wrong places. But on the
other hand, oftentimes the intuitive part is not completely wrong
if we only realize a couple of things then we realize that the
typical way of looking at things or framing the problem is what
causes us to come to a wrong conclusion. So the whole fear of
flying is often based on somebody telling you about specific plane
crashes or looking at certain tables of, "Here are the top ten
worst air disasters ever." What happens is that somebody's
framed the discussion and makes us focus only on the 10 things
that went wrong as opposed to the tens of millions of flights that
happens every day that actually went without issues.
In that case, if you were to take as your basis of analysis only the
10 things that went wrong, then you apply the same statistical
thinking only to 10 things, then you would have come to the
conclusion that flying is very dangerous. But if you actually apply
the same type of thinking to the largest set of all flights that
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actually went out there, then you would have arrived with a
different conclusion.
Oftentimes, I guess it goes back to the point of the math is
probably not the part where things goes wrong. The formulas are
the formulas; it's how you apply it. Are you applying it to the
right things and are you taking into account the specific context
of application? A lot of those contextual factors are things that
determine whether you end up with the correct conclusion or an
incorrect conclusion.
Joe: You spend a lot of time, I think, talking about variability. Or
maybe not a lot of time, but you start out with that because that
really is whether numbers work or not.
Kaiser: Yeah. I think somewhere in the book I have said that
you could, in fact, define the field of statistics as the study of
variability because what happens is that if there's no variability, if
everything is just like the average, there really is nothing to
study because every data set would literally have the same
number. The whole field of statistics is there because things don't
happen the same way. It is hard for people to accept. I think
oftentimes we like certainty and it's very difficult to accept, for
instance, say in business you like your metrics to be stable, but
then it gets difficult to accept the fact that if the whole company
pursues the same exact strategy and you don't change a thing
from one month to the next month, the metrics are not going to
look exactly the same. There's some natural fluctuation based on
things that you can't control.
So oftentimes, in my work, you have to convince people that if
you're going to do something different that something different
has to be much better than what normally might happen. How do
you determine if the difference that you are observing after you
changed your ways? Is that real difference or is that just a
difference that might happen regardless of anything different that
Interpretations of Data
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you are doing. So with certainty we are trying to get people to
accept the fact that there is some background variability no
matter what, it is a big challenge.
Joe: We talk about especially in sales and marketing we talk
about forecasts, most don't understand what a forecast means
because there is a lot of uncertainty in forecasting. Can you really
manage uncertainty without a good grasp of numbers?
Kaiser: I think that's sort of the key. One of the key ideas
behind statistics, which when I teach my students at NYU that is
sort of one of those big points I want to convey. Statistics is not
there to eliminate or to cure variability. Variability is something
that's out there that cannot be cured. What statistics does is to
create a way for us to measure the degree of variability. Because
the whole point is that if you don't know, as you are unable to
measure it, you don't know how large or how small the variability
is. You cannot find ways to minimize it. So it is certainly true that
the whole point is to try to figure out how big it is.
And being able to measure it is the first step to controlling that.
And as I said, often times all you are left with is to establish this
is the range of expectations. But you cannot really get rid of the
fact that things do change, whether you like it or not.
Joe: I think statistics allow you really to embrace uncertainty.
Kaiser: Yeah, I think that's a very big change from, I started out
in engineering world and you find two very different ways of
thinking about the world. If you want to then jump to statistics,
you really have to start from the point of view that pretty much
anything that you are looking at is uncertain. For things that have
small levels of uncertainty, it is not very harmful to look at
averages. You won't make the wrong decision just based on the
averages. But then the other things where the uncertainty is
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much higher and you end up making wrong decisions, you don't
account for that.
Joe: We get statistics for everything now. We are flooded with
statistics; we are just flooded with data. And marketing
companies, the smart companies are really embracing them using
them to their advantage. But where do you see it, as far as, let's
go back to the average company. Do they really understand the
statistics out there that are available to them and are using them
effectively? Are you part of that conversation?
Kaiser: Yeah, I think this whole field of what I would call
business analytics is still kind of developing. I would say the
average company is probably not using them in the best way
possible and I think as a field, we are still trying to find a way to
become more influential in the boardroom. That's one of the
reasons why, if you look at some of books that I write, and the
two blogs that I publish, one of which is Junk Charts which is
about specializing data. And the other one is just about how to
communicate statistics information in sort of a written format.
All is, are about how do you communicate your information the
most effective way to people that are not necessarily technical
thinkers or quantitative thinkers. Because ultimately, we can't
really change anything in the world and also in the business world
without the ability to influence people who do not necessarily
think in a quantitative way.
Any important decisions are going to involve people who either
think intuitively or who are not trained in any quantitative skills. I
think in the past there is this and probably in the present too in
certain settings there are people who feel that well, if they don't
know anything about math, we first need to teach them the math
and then they will understand what we are talking about.
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I think that's just a completely wrong way to approach it. It is
kind of like saying if you want to go do business with a local
company in China, you should first teach them English, and then
you speak to them in English. I think one of the big challenges is
going to be how we speak to non-technical people in a language
that works. That's one of the keys I think to becoming more
effective.
Joe: So what languages do we speak to them? How do we do
that?
Kaiser: I think that's kind of what I wanted to show in Numbers
Rule Your World. And that's where some of the reviewers actually
noticed that despite that title, there's not a whole lot of numbers.
There is certainly no statistical form of anything in the book which
is that we really should speak to people in English, and in the
language business as opposed to in the language of maths and
language of statistics. We obviously need the language of math
and language of statistics to actually analyze the data and to
come to conclusions. But once we know what the data is telling
us and once we know what the insights are, we should think of
the communication aspect as a whole other task that is separate
from the task of doing math.
I am also hoping that there is a shift in emphasis even in the
books written about analytics from books that focuses on how do
you get insights to kind of things like my book where it focuses
on what is the context behind a decision making and how these
decisions are actually made.
If you think about books like Freakonomics, or Malcolm Gladwell,
and they've done a great job for us in terms of expanding
people's vision and also getting the world excited about data
driven decision making.
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But if you look at kind of how they present their stories, typically
they end at the point where OK this is how they actually look at
the data and this is what they found. In practice, that's just the
beginning of the hardest part of the job is how do you now get
other people to embrace these insights. And how do you now get
these insights to influence either a public policy or business
decision?
Joe: I think that's what's kind of scary to a lot of people and the
average guy that maybe sitting in the meeting is that someone
that's good with numbers, some statistician can make the
number say whatever they want them to say. Can't they?
Kaiser: Well, that's yes. I would say yes and no.
Joe: Well, I can't say that literally.
Kaiser: It is certainly true that statistics is not a black and white
field and that's kind of also something that statisticians from sort
of pure mathematician, although statistics is often considered
part of mathematics, it is a very different field in the sense that
we have set uncertainties one the prerequisites, one of this things
that just sit there, that cannot be changed about the field of
statistics. The other thing that cannot be changed is there being
complete information. So we don't need to do statistics if you
have complete information about everything. Almost always the
data that we are looking at is going to be incomplete in certain
ways. We have to embrace that too. And so when you have
incomplete information there is just no way to know the definitive
truth. So everything is some kind of a guess. There are better
guesses and there are worse guesses. And there is definitely a
difference between a good statistician and a bad statistician.
It is still the case that even if you are a good statistician,
whatever you say is your best guess. So it goes back to why I
keep saying, what has asked make us that's important because
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how do you tell if it's a good statistician or a bad statistician?
Judge whether the suspicions that were made based on the
statistician's recommendations would turn out to be effective or
not effective.
But ultimately you can say whatever you want in coming over the
insights. But if your insights are not actually giving you results,
then you know that you cannot trust whoever is doing the
numbers.
Joe: I come from a field that, and in LEAN especially more so
than even Six Sigma a little bit, but in LEAN ... You know, an old
saying goes, if you're not visual you're not LEAN. And really to
portray numbers, a lot of it is about creating let's say charts or
something that's very visual to someone to understand the
numbers. Because nobody wants to see a list of numbers, OK? I
mean, that's hard to digest. They want to see the result of the
numbers and that's usually typically done in a chart. And is that
what Junk Charts is all about? Do you discuss how to make, in
that blog, do you discuss some of the pro's and cons of charting?
Kaiser: When I first started out, one of the things that I
definitely wanted to avoid is to create a blog that just criticizes
and does nothing constructive. I mean, you'll notice the same
vein in Numbers Rule the World book. I don't really want to write
a book about Lies, Damm Lies and Statistics because there are
lots of books out there about it. I also feel that it doesn't help
anyone do numbers better if all you are saying is how they have
done wrong. What the stories in my book tell you is about how
people are using numbers to actually make a difference in our
world, basic concepts that you can take with you and apply to the
real world, as opposed to just criticizing.
Also this idea of junk art, you can actually reconstitute something
valuable out of something that may not be so useful. Most of the
time I strive to not only talk about what's good and what's bad
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about a chart that I either I find in my reading or that readers
send to me, but I try to come up with different ways of visualizing
the information.
Now, it may not always be better. Some readers will criticize
what I do as well. But the whole practice of visualization is that
you just have to do a lot of trial and errors. You need to visualize
the data in multiple ways. Eventually you will find a way that
really brings out the message of the data. Oftentimes I find that
without just creating multiple versions of a chart, it's hard to
actually know which one was most successfully.
Joe: When you looked at the charts, and of course on the blog
you look at a lot of charts. Do you feel there's a lot of room for
improvement in that area?
Kaiser: Unfortunately it's sort of bad habits are very difficult to
correct. I think some of the things that I talk about have been
talked about by people for decades. And you still see the same
problems showing up constantly. Types of charts that are used a
lot of these buuble charts, they use circular areas to encapsulate
data. Unfortunately, it's been proven time and time again in
experiments that we just don't have a good grasp of relative sizes
of circles. Anybody who presents such a chart is going to end up
conveying the wrong information about the relative comparisons
that such charts are typically created to do.
You keep seeing those same charts out there and it's a pretty
pervasive problem. So I try to counter that by showing. If you
have visualized it in a different format and not using a bubble
chart, things would actually look a lot closer to reality.
Something that I talk about constantly is what I call this self-
sufficiency test. Which is that you can pretty much very quickly
tell a bad chart by figuring out that, well, the designer of the
chart put all of the data onto the chart at the same time that
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maybe you put bars or bubbles or other concepts. What that tells
you often times is that the reason why all the data is printed on
the chart, is that if the data is not printed on the chart the chart
itself doesn't work.
So if you think about it, if you're going to visualize information,
the point of visualizing is to use graphical elements to convey the
data. If you need to print all of your data onto the same chart
that means that your chart just doesn't work. I've encouraged
people to look at charts in this way. Look at a chart, try to
visualize it without having to use the data itself and see if it
actually works for you. If it doesn't then the person picked the
wrong chart.
Joe: There's no really a method in being able to determine the
right and the wrong chart to use at the time. It's really in what
you're trying to express, let's say to that particular group and to
that particular audience is your selection of charts, right?
Kaiser: Yes, I talk about that a lot. And I pretty in much every
post I put up there, I start with: What is the question, why are
we even looking at this data? What is the question that we're
supposed to address with the data? That's possibly the number
one thing. If you don't know what you want to say, then you
cannot possibly create a good chart. I have something what I
have called the Tri-factor checkup on my blog and that's the very
first question. One corner of the triangle is to try to figure out
what is that you want to answer with the data.
Then the second point, the second corner is: Do you have the
right data to address that question? If you're showing me data
but the data is only tangentially related to the question that
you're trying to address, that also guarantee a bad chart. But it's
just not going to give me a convincing answer to the question
that I would like addressed.
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The third part is that you pick the right format of a chart to
convey the information that you have. And that's where, typically
everyone is focused on that particular corner. What I think people
would have to think beyond that corner is, as you said: What is it
that we're trying to address here anyway? Then the other part is:
Do we actually have the right data?
That's actually really important because I think that there's too
much analysis out there of what I would call convenient data
sets. Data sets that you just happen to come across. I would
much rather that the world starts with: What are the questions
we would like to answer and then go out to find the right data to
address those questions as opposed to the other way around,
which is here's the data, let's figure out what's interesting to look
at because we have this data sitting around.
Joe: What I see so many times is people selling those analytical
packages and they show the nice charts and they show all the
different things I'm going to get out of it and everything. And all
at once, that tool is how we start interpreting some our
marketing data and it's kind of like, "Time out!" It's not what that
tool's is telling us, it's all them things within that tool, the things
we need to know driven by our...
Kaiser: Exactly. One of my recent posts on Junk Charts is about
this interactive chart that was put up by one of the... I forgot who
it was, AP or one of these charitable organizations. It was
supposed to visualize some survey results about peoples, I think,
expectations of the economy in various parts of Asia. They
surveyed different people in different industries. There, they
created some kind of interactive thing where you can walk
through different countries, different industries, and then it would
show you data in some kind of a donut chart. The problem I have
with that is exactly what you said, is that when they just find that
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navigation, that interactivity they pretty much have restricted
how you can view the data.
Which means that in order for them to design this chart right they
need to first talk to the readers or talk to the people who are
going to use the chart and understand what kind of questions
they want to answer. Maybe my main question is to understand
the variability between different industries within a country. Or
somebody else might be much more interested in the variability
of countries and they may not care about the availability within
industry.
You have to first start with having a deep understanding of all the
types of questions that people might want to answer and you
need to have a prioritization of all these questions. Most people
would like to address these five questions. And then maybe there
are these other three questions that are of secondary importance.
Then you need to then define a navigation and interaction with
those things in mind. The main problem I have was the execution
of that particular chart, is that it presumes that people only look
at things in a uni-variant way but in reality, in business most of
the time people look at things in a multi-dimensional way. So,
you kind of have to define the chart from that angle, which is
kind of what I talk about and in the book.
Joe: Without a good statistical background it's pretty tough isn't
it, to do that?
Kaiser: Yes. That's kind of the challenge of what I've been
talking all along is, the challenge of communicating the findings. I
think that's where the statistic community has not done enough
yet on. We are very obsessed with coming up with methodologies
and coming of new techniques that may be marginally better than
the existing techniques. That stuff is great for academia and
research, then you're talking about practice and business
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analytic. It's much more about how do we even get some of these
very basic concepts through to a much wider audience which does
not come from the same background as the statistician. I totally
acknowledge your point and it's very, very challenging.
When I wrote the book, there are parts of it that is very
challenging too. I have a whole chapter that essentially conveys
the concept of what a hypothesis test is and I chose to develop it
in a way that has none of the jargon and none of the
mathematics that's typically used. I hope that some of the
readers will find it to be a successful way of conveying that
concept. It's not a simple concept to grasp. Where I think this has
to go is we have to come up with creative ways of conveying that
information.
Joe: You did a nice job in the book because I sat down and read
the book and it wasn't one I had to labor through. I could sit
down and read it and also it brought some smiles along the way
of "That's not how I remember it being portrayed to me on the
news or anything." Or when I was standing in line at Disney, you
talked about how they handled the queue, a few things like that.
I reflected back to them on the things they did to not make the
wait so long or appear so long. Of how they effectively managed
that. They started doing all that with numbers.
Kaiser: I think going back to something that I said before, in
that case as well as... Even in that same chapter I talk about the
highway incident in Minnesota, is that in all those cases they
clearly identified what the business problem is or what's caused
the issues and then they literally have to spend a lot of sweat and
energy and time to go and collect the data. The data just doesn't
come sitting there in a basket waiting for you to analyze. That's
really the tough part of a lot of business. If you are doing good
work, you pretty much have to go through your own data. You
have to go find the right pieces of information. Often times
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chosen different ways to communicate the value of the work. This
stuff that has been published would be published in technical
journals or published for a more technical audience.
They describe their achievements the same way. But often times
there are different ways of describing the same thing would
actually in my view appeal more to a non-technical audience and
next to capture the essence of what they are doing.
Joe: Is there something that you would like to summarize or add
to this conversation that I haven't asked?
Kaiser: I think the only thing would be that I would encourage
people to come to my blogs. I've started a new blog since the
book came out "Numbers Rule the World". There's a link to it
from Junk Charts. But that's where I... If you enjoy the chapters
in the book that's where I continue to apply the big concepts I
describe in the book to all kinds of current affairs and real world
things that are happening out there. It's really kind of an
extension to everything that I was trying to do.
I hope that they would join in this conversation as we discussed
before, there's plenty more work that needs to get done in terms
of figuring out how do we describe and communicate this sort of
information effectively, have all the answers and I hope that your
listeners will join this conversation.
Joe: I think you did a great job Kaiser because you started out
recognizing the fact that it's not everybody else's job to learn the
math. It's your job to be able to present the math in a learnable
fashion.
Kaiser: Exactly. I think that eventually the academic community
will come to this realization as well.
Joe: It is so important today to do that because we are just
flooded with data and how we manipulate that data and how we
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use that data is really going to be the companies that flourish, I
think.
Kaiser: Yes, absolutely. We have seen a lot of signs of that. It's
an area that is on the rise, I mean lots of companies are now
realizing that they need people who can read data accurately and
hopefully this will become more and more of the norm in the
upcoming years.
Joe: Well, I'd like to thank you very much Kaiser. This podcast is
available on the Business901 iTunes store and also available on
the Business901 website. So, again I thank you very much
Kaiser.
Kaiser: OK. Thanks a lot Joe.
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Joseph T. Dager
Lean Six Sigma Black Belt
Ph: 260-438-0411 Fax: 260-818-2022
Email: jtdager@business901.com
Web/Blog: http://www.business901.com
Twitter: @business901
What others say: In the past 20 years, Joe and
I have collaborated on many difficult issues. Joe's ability to combine his
expertise with "out of the box" thinking is unsurpassed. He has always
delivered quickly, cost effectively and with ingenuity. A brilliant mind that is
always a pleasure to work with." James R.
Joe Dager is President of Business901, a progressive company providing
direction in areas such as Lean Marketing, Product Marketing, Product
Launches and Re-Launches. As a Lean Six Sigma Black Belt,
Business901 provides and implements marketing, project and performance
planning methodologies in small businesses. The simplicity of a single
flexible model will create clarity for your staff and as a result better
execution. My goal is to allow you spend your time on the need versus the
plan.
An example of how we may work: Business901 could start with a
consulting style utilizing an individual from your organization or a virtual
assistance that is well versed in our principles. We have capabilities to
plug virtually any marketing function into your process immediately. As
proficiencies develop, Business901 moves into a coach’s role supporting the
process as needed. The goal of implementing a system is that the processes
will become a habit and not an event.
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